Server Down

Ahmedabad- Icicidirect-from 11.00am 12-8-2005

Members Across Country May Continue This To
Know Countrywide Service Of Brokers


How can ICICI Direct servers work when they have 7 Lakh registered users with them and ICICI themself doesn't know now wat to do. SO the problem will go on for ever. AFter all who cares its not there money which is going through the drain. :mad:
qqqqqq said:
ICICI DIRECT is not for frequent traders, it is for guys who happen to hold some shares & wanna get in/out .
Time / one -two bucks here there doesnt matters them.
BUT it SUKS for traders like me.
HAVE 3 ICICI A/C in my family but think will never ever use it for trading.
IPO/MF is ok on it tho.
I am also sick of ICICI direct... suggest me something else
It is too irritating to know that - you can't place orders (online) for more than 4 hours after the trading closes. Starting from 3.30pm, I understood that you can't place orders (at least) till 7.30pm. You will get a message like this if you click on "Buy" or "Sell" link:
Expiry is under way, you cannot place/modify/cancel orders right now.
The trading exchanges themselves do not have this looooong "expiry duration".

It is agreed that ICICIDirect is not for a frequent trader, but this long expiry duration is difficult to put up with, even for a no-so-frequent trader, IMO.
Message from MD and CEO, ICICIdirect.com

Dear Customer

Over the last 6 months there has been substantial growth in the trade volumes on ICICIdirect. With your support and patronage we are now one of the largest e-brokerage platforms in the world.

In order to further capacitise the system to handle larger volumes and to improve customer convenience, we have undertaken a major system upgradation. However, we have faced some technical issues during this process resulting in the site not working to its fullest efficiency.

We would like to assure you that the senior management of ICICI is fully seized of the situation, and we are working round the clock with our technology partners to resolve the technical issues. This is a very important business for the group and want to sincerely thank you for your patience and patronage.

We sincerely regret the inconvenience caused to you.

Regards Anup Bagchi MD & CEO ICICIdirect.com

Please some one tell them that we are losing money because of this... There apologies wont fill the hole....
The MD.
ICICI ltd.

Subject.Regarding frequent failure of your WEBTRADE servers...and the

losses incurred due to this failures.

Dear Sir,
i,am your UNFORTUNATE customer sice last many

years and have been trading through your server since long... the most

unfortunate thing about the whole issue is that whenever there is the

urgent need to change the trade standing and correct the orders your

beloved obdient server fails and a callous "technical Error Page " laughs

on us,your call centre has a MAZE of technical choices which are useless

for the traders in urgency,and take bloody hours to register the trade.or

correct the trade,i have been taling regarding this to many of your HIGH

level oficers but nothing has changed and as off this date i have loss

nearly 1 lack of rupee other than your brokerage due to the failure of your

Sir,i would like to bring to your notice that yopur company charges

the maximum brokerage for the derivative trades but correspondingly the

services are the worst till date and frequent complains have failed to make

you move anything towards improvemnet of the services....
Sir on date 17-Jul-2006, i had an open position for nifty PUT

namely OPT-NIFTY -27-Jul-2006 -2950-PE,and i was sure the trade was to be

profitable this month... however i had put the sell for the maximum of the

limit ,,, but by afternoon the markets fell beyond my expectations and ever

expected to fall further so i had to change the position and wanted to

CANCELL the sell order.Sir to my surprise according to habit the servers

had faied and did not respond since about 12 noon and the sell order was

not corrected... the Call centrelines were also all jammed and so there was

no way to cancell the order,,,ultimately i had to get my market positions

and the present values form KOTAK Securities serverpage but the server for

the services of which i am paying through the nose had failed in emergency

ultimately from the srerver of KOTAK i could see that my trade had been

squared off at a much lower level thhan what i could have got .. and still

i were to get.... as of today the markets are bearish as per my

speculations ,but just due to fault of yiour server,and no emergency

backups on your side i have made this losses.
Sir i had a long talk iwth someone at your call centre who promised

me that some authority form ICICI Direct will contact me within 2 days for

further actions to be taken by ICICIDirect to make good my losses,but even

as of today no one has contacted me rgfarding this issue,Sir please take

this very seriously and please give an explaination as to How ICICIDIrect

will make good my losses and Why i should not go to C.P.A. for the lack of

Reliable reasonable srevices to the Customers...
Sir if your Company fails to respond in the time of 2 days i shal

be compelled to put this letter on the Internet to let asmany people to

know about the worst,horrid and hopeless services of ICICIDirect,and to let

the people know that ICICI has growin beyond size to take care of the

Thanking you,SIr.""""

I dont know whether to try or not. This is shame on ICICI, who call themselves as Tech Savvy and pocket huge money as their salaries and perks and travel in Business Class, sit in A/C chambers with A/C Cars.

They are all looting the Public Money. SEBI Should put a clause, If a trader looses money because of Server Failures of DP, then the loss has to be borne by DP.



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